Pune, India, April 2022, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Video Processing Platform Market.
Video Processing Platform Overview
The global video processing platform market is expected to register a CAGR of ~17.2% during the forecast period, 2022–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the video processing platform market to offer a better glimpse into the coming years.
The major factors driving the growth of the video processing platform market are the increase in demand for high-quality videos and growing need for transcoding to deliver videos to maximum end users. However, the high content creation cost and the threat of content piracy are hindering the market growth. Although, growth in demand for real-time video services are providing opportunities in the market.
Segmental Analysis
The global video processing platform market has been segmented based on component, application, content type, end users, verticals, and region.
Based on the component, the video processing platform market has been segmented into hardware, platform, services. The hardware segment registered largest market size. Hardware are used to solve real-time image/video processing problems, also used in industrial inspection settings. Platform segment offers standardized capabilities and multiple monetization models to video service providers. Video processing platform service providers are focused on offering software services for scalable solutions for live and on-demand productions.
By application, the video processing platform market has been segmented into video upload and ingestion, dynamic ad insertion, video transcoding and processing, video hosting, content rendering, others. The video upload and ingestion segment accounted for the largest revenue share in 2021. Video ingestion process offers multiple opportunities to automate, accelerate and improve content delivery. Ingestion of a video is the process of uploading the file, and processing the video for playback. Dynamic Ad Insertion (DAI) is a server-side video ad technology that allows you to serve video ads into live linear programming and video on demand content. Video Transcoding segment refers to the process of compressing video files as much as possible at minimal quality loss to represent and transfer information by using less data. A video hosting segment allows users to upload, transcode, store, and play video content on the Internet, typically through a structured, large-scale system that may earn income. The content rendering is a process by which a computer processes information from a coded data source and uses that information to produce and display an image.
By content type, the video processing platform market has been segmented into real-time/live and on-demand. The on-demand video processing platform to grow at a higher CAGR during the forecast period. The real-time/live segment offers various benefits like interaction and vicarious experience of watching the content. The on demand segment helps people fit the viewing experience around their daily schedules, rather than the other way round.
By end users, the video processing platform market has been segmented into TV broadcasters, network operators, content providers. The content providers to grow at a higher CAGR during the forecast period. The TV broadcasters is a form of broadcasting in which a television signal is transmitted by radio waves. Network operator is a provider of wired and wireless communications services that owns or controls the infrastructure necessary to sell and deliver services. Content Provider segments virtualize access to shared data resources, such as local or remote databases.
By vertical, the video processing platform market has been segmented into BFSI, manufacturing, healthcare and life sciences, IT and telecommunications, government, education, retail and consumer goods, media and entertainment, others. The education segment is expected to gain the largest market share during the forecast period. In BFSI, it improves customer experience, keeps client engagement personal, and expands an organization’s reach. Media and entertainment companies is shifting towards video streaming services to engage its intended audience, thereby driving the video processing platform market. Healthcare sector is using video processing platform to improve medical outcomes and push the healthcare industry forward. Educational institutes have been using video processing platform significantly to improves student learning. Governments include various ministries and institutions that use video processing platforms to educate and inform citizens of a country about regulations and policies.
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Competitive Analysis
The global video processing platform market is characterized by the presence of several regional and local providers. Some of the key players in the market are Akamai (US), Imagine Communications (US), MediaKind (US), Kaltura (US), ATEME (France), Synamedia (England), SeaChange (US), Vantrix (Canada), NVIDIA (US), Pixel Power (UK), Qumu (US), InPixal (France), Amagi (US), Apriorit (US), MediaMelon (US), Mux (US), Base Media Cloud (US), M2A Media (UK), BlazeClan Technologies (India), JW Player (US), SSIMWAVE (Canada), Lightcast.com (US), and Beamr (US)
Regional Analysis
The regional analysis for the global video processing platform market has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. North America is likely to be the dominant regional market due to the faster adoption of innovative technologies in developed countries in the region—the US, Canada, and Mexico. This is mostly owing to the fact that the region is one of the most technologically advanced, with a plethora of market participants
The European market has been segmented into the UK, Germany, France, and the rest of Europe. The UK is projected to be the leading country-level market in the region. Due to rising demand from the manufacturing and healthcare sectors, Europe is likely to be a major market for worldwide video processing platform. Through a move to customer-centric business strategies, these industries are projected to boost the market
The Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. The APAC area is experiencing tremendous growth due to a variety of factors, including the expansion of local businesses and government programmes aimed towards technologies developments. The major APAC countries are technologically advanced and provide significant investment and income potential. The increasing cyber-attacks and inefficiency of large and small businesses in countries such as China, Japan, Australia, and India, are driving the growth of the video processing platform market in the APAC region.